U.S. President Donald Trump has ramped up his verbal attacks on Federal Reserve Chair Jerome Powell, pressuring him to cut interest rates. Trump's remarks hint at a desire for the Fed to act to avoid an economic slowdown. Concerns are growing among economists about Trump potentially attempting to fire Powell, which has negatively impacted financial markets. The S&P 500, Dow Jones, and Nasdaq all saw significant declines as fears of a less independent Federal Reserve grew, jeopardizing the U.S.'s reputation as a safe place for investments.
"Trump has been pressuring the Federal Reserve to lower interest rates, claiming that a slowdown in the U.S. economy would be imminent without action from Powell."
"The rising attacks on Powell are increasing fears that Trump may try to fire the U.S. Fed Chair, contributing to downturns in financial markets."
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